Page 6 - Renewable Enrgy

Bihar attracts investment proposals of Rs 1.8 trn at global investors' meet

The Bihar government on Friday said it has attracted record investment proposals of nearly Rs 1.81 lakh crore across different sectors such as renewable energy, food processing and manufacturing from an array of corporates, including the Adani Group, Sun Petrochemicals, and others. At the end of the two-day global investors' summit Bihar Business Connect 2024, Industries Secretary Bandana Preyashi said the Bihar government has signed MoUs for setting up 423 units with an investment of Rs 1,80,899 crore. "We are overwhelmed with the response from corporates. It is beyond our expectations. We have received investment proposals of over Rs 1.8 lakh crore," she told reporters here. Sun Petrochemicals and Adani Group were among an array of industrial houses that lined up a record Rs 1.8 lakh crore investments across sectors in Bihar, more than triple of Rs 50,300 crore the state received at its maiden investor meet last year. Preyashi said Sun Petrochemicals will invest Rs 36,700 crore i

Ashoka Buildcon to invest Rs 9,000 cr in green hydrogen plant in Bihar

Construction engineering company Ashoka Buildcon plans to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar, its COO-Renewable Energy Mayank Sharma said Friday. The company signed a memorandum of understanding with the state government, committing to investing in the plant, during the Bihar Business Connect 2024. The Maharashtra-based firm is in highway construction, power distribution and solar projects. Sharma said the company will set up a 1,250 MW solar project and use the clean electricity to produce green hydrogen by splitting water. "The first phase of the plant is being planned at Begusarai (in Bihar)," he said. Green hydrogen is the cleanest known source of energy, which produces just water from being burnt. Sharma said the first phase of the project will take 1.5-2 years to commission from the date of receiving all clearances. The second phase will follow thereafter. According to the latest presentation on the company website, Ashoka Buildcon had an

India to be global hub for renewable energy in next 30 years: US Ambassador

Like the resilience of a palm tree that grows notwithstanding the "strongest storm" and "biggest wind", the India-US relationship will continue to thrive and benefit the world, US Ambassador Eric Garcetti said on Monday. In an address at an event, the envoy specifically lauded India's "bold goals" for renewable energy and said it will emerge as the "shop floor" globally in the sector in the next 30 years. "India's ambitious targets and policies are making it a leader in solar and wind capacity, not just for this country, but to be able to manufacture at cost for the world -- the solar panels that we need, the electrolyzes that we want, the batteries that are critical," he said. "India will, mark my words, in the next 30 years, be the shop floor for the renewable energy revolution," he said. The outgoing ambassador was speaking at the South Asia Women in Energy leadership summit hosted by the US-India Strategic Partnership Forum (USISPF). The ambassador narrated an episode of a hot

TotalEnergies to buy Germany based renewables firm VSB for 1.57 bn euro

The VSB announcement comes days after TotalEnergies' renewables strategy faced a series of setbacks in other regions

Suzlon Group secures order of 302 MW wind project from Jindal Renewables

Suzlon Group on Wednesday said the company has secured an additional wind project of 302.4 megawatt from Jindal Renewables in Karnataka. In October, Suzlon had announced securing a 400-megawatt (MW) wind power deal from Jindal Renewables Power. "Suzlon and JSP Green Wind 1, a subsidiary of Jindal Renewables, have expanded their partnership with an additional 302.4 MW wind power project in the Koppal region of Karnataka," the group said in a statement. The second order brings the total capacity from Jindal Renewables to 702.4 MW, making it Suzlon's largest-ever commercial and industrial (C&I) order from a single customer. Under the strategic agreement, Suzlon will supply 96 wind turbine generators (WTGs) of S144 series with hybrid lattice (HLT) towers, each rated at a 3.15 MW capacity. The power generated will be used at steel plants in Chhattisgarh and Odisha, Suzlon said without disclosing the exact value of the multi-crore order. Suzlon Group Vice-Chairman Girish Tanti said, ..

Sterling and Wilson Renewable Energy up 3% on Rs 504 cr-order win; details

The uptick in Sterling and Wilson Renewable Energy shares came after the company announced that it has received a new domestic order from a Private IPP worth Rs 504 crore

Govt to set up R&D centre for manufacturing of RE components: Pralhad Joshi

The Ministry of New and Renewable Energy (MNRE), in collaboration with the Ministry of Power, has decided to set up a centre of excellence (CoE) to carry out research and development for indigenous manufacturing of various components required to generate green energy. Union Minister for New and Renewable Energy Pralhad Joshi said at a press conference after addressing the 'Chintan Shivir' organised here to develop strategies for achieving India's ambitious target of 500 gigawatts (GW) of renewable energy capacity in the next 6 years by 2030. The two-day meeting concluded on Friday. More than 200 parts or components (over 50 per cent of total parts) required to develop electrolysers are being imported from other countries, Joshi said. "So, a centre of excellence (CoE) will be established to carry out joint research and development for indigenous manufacturing of such components," he said. Electrolysers, which use electricity to split water into hydrogen and oxygen, are a critical .

NTPC-ONGC green energy joint venture bids $650m for Ayana Renewable

Ayana Renewable Power, owned by NIIF, British International Investment Fund and Green Growth Equity Fund, operates solar and wind plants that produce 1,600 megawatts in India and has another 2,500

Apollo Green Energy plans solar module plant, targets IPO in 2025: CEO

Apollo Green Energy is also executing 400 MW of solar installations and other engineering, procurement and construction projects

KP Energy share gains 5%, hits record high on securing order from KPI Green

The uptick in KP Energy share price came after the company secured over 1 GW order for development of wind-solar hybrid and solar power projects from KPI Green

Significant growth opportunity for renewables sector in India: SEforALL

There is significant growth opportunity for renewable energy sector in India, as the country's growing energy demand along with rapid industrialization needs all resources of energy, including solar and wind, according to an international sustainable development agency in Vienna. The Indian government has shown both a deep as well as a continued commitment to renewable energy, said Kanika Chawla, Director and Chief of Staff at Sustainable Energy For All' (SEforALL). Speaking to PTI on the sidelines of Singapore International Energy Week held in October 21-25, Chawla said there is more manufacturing (renewable energy) happening within India which also improves security and reduces import dependence. "India is using policies like performance-linked incentives for manufacturing. All this is very laudable and brings energy economic prosperity to the people," she noted. Chawla also acknowledged that clean energy solutions are quite job intensive as every kWh of RE generates three times

Global emissions likely have peaked as renewable sources take hold

The cost of deploying solar panels and battery technology is due to drop by 19 per cent by 2030, helping deliver record amounts of low carbon power

Leading renewable energy firms in India seek buyers for 20 Gw assets

India currently has 150 Gw of installed RE capacity

India seeks 6K MW of peak renewable power supply with storage

India is looking to connect a record 35 gigawatts (GW) of solar and wind energy capacity to its grid

Gujarat leads way as India sets ambitious renewable energy targets

Gujarat's expansive solar initiatives are setting the standard for the rest of the country

China's monthly reports understate power output as renewables surge

The data is also masking some of the progress by the world's top greenhouse gas emitter in reducing the share of coal

Ireda gets govt approval to raise up to Rs 4,500 crore via QIP route

State-owned Indian Renewable Energy Development Agency (IREDA) said it has received the government's approval to raise up to Rs 4,500 crore through an issue of equity shares to qualified institutions placement. The approval was granted by the Department of Investment and Public Asset Management (DIPAM) based on the recommendations of a high-level committee, a company statement said. According to the statement, the fundraising will be carried out through the Qualified Institutions Placement (QIP) route, with a planned dilution of the Government of India's shareholding in IREDA by up to 7 per cent on a post-issue basis, to be executed in one or more tranches. The fundraising exercise aims to strengthen IREDA's capital base, enabling the organisation to scale its financing for renewable energy projects and further accelerate India's transition to clean energy. "DIPAM approval represents a critical step forward in our expansion plans," Pradip Kumar Das, Chairman and Managing Director o

Torrent Power zooms 7%, nears record high on signing MoU with Gujarat govt

Torrent Power share price today: The buying interest in Torrent Power shares came after the reaffirmed its commitment towards investment worth Rs 64,000 crore in green and sustainable projects

Investec bets on Adani Green, initiates with 'Buy'; sees 31% upside

Despite this positive outlook, Adani Green's stock was trading about 2 per cent lower at Rs 1,890.20 as of 9:26 AM, while the BSE Sensex was down 0.08 per cent to 82,920.90 levels.

India gets $386 bn funding for RE target; RIL, Adani pledge commitments

India added slightly more than 18 GW of renewable energy capacity in fiscal 2024, compared with 15.3 GW a year earlier, taking its total to 153 GW